Trimas Corporation - TRS STOCK NEWS

TriMas Packaging (NASDAQ: TRS) has maintained its Gold level rating from EcoVadis for Environmental, Social and Governance (ESG) initiatives, positioning its U.S.-based sites (Rieke ) in the top 5% of over 130,000 globally assessed companies.

The EcoVadis assessment evaluates 21 criteria across four core themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The methodology aligns with international sustainability standards, including the UN Global Compact, ILO conventions, GRI standards, and ISO 26000.

TriMas Packaging, with approximately 2,200 employees across 26 locations worldwide, serves various markets including beauty and personal care, food and beverage, home care, pharmaceutical, and industrial sectors. The company operates through market-leading brands such as Rieke®, Affaba & Ferrari™, Rapak®, Taplast™, Plastic Srl, and Aarts Packaging, focusing on dispensing, closure, and flexible packaging solutions.

TriMas Packaging (NASDAQ: TRS), the largest operating group of TriMas, announces its participation in two major trade shows in 2025. The company will showcase its product portfolio at Paris Packaging Week (January 28-29) and LUXE PACK Los Angeles (February 12-13).

At Paris Packaging Week, TriMas will present its new Singolo™ fully recyclable foaming dispenser pump, 100% PET jars for hair care, and advanced color cosmetic packaging. The LUXE PACK exhibition will focus on beauty and personal care products, featuring customizable color cosmetic packaging, lotion pumps, and airless dispensing systems.

The company emphasizes its commitment to sustainable packaging solutions and innovation in the beauty, cosmetic, and personal care markets. TriMas Packaging operates with approximately 2,200 employees across 26 locations worldwide, serving various markets including beauty, food and beverage, pharmaceutical, and industrial sectors.

TriMas Packaging (NASDAQ: TRS) has announced the launch of a new fully recyclable foaming pump under its patented Singolo™ product line. The innovative dispenser features a polymeric spring instead of a metallic one, making it entirely recyclable while maintaining familiar functionality. Approved by the Association of Plastic Recyclers, the dispenser is customizable with various neck sizes, head shapes, and colors, suitable for beauty, personal care, and home care applications.

The Singolo foamer pump operates in the 0.8 cc to 1.5 cc range, complementing the existing PCR-ready dispensers that range from 2 cc to 4 cc. The product will debut at the Paris Packaging Week trade show on January 28-29. TriMas Packaging, with approximately 2,200 employees across 26 locations worldwide, continues to advance its sustainability initiatives through innovative packaging solutions.

Barington Capital Group, owning approximately 1.5% of TriMas (NasdaqGS: TRS), has formally requested the company's Board of Directors to explore strategic alternatives. The request, made through a letter to Board Chairman Herbert K. Parker, comes at a time when the company is contemplating a CEO transition.

Barington believes this timing is optimal for pursuing strategic alternatives and has urged the Board to immediately retain a financial advisor to guide this process.

TriMas (NASDAQ: TRS) announced a leadership transition plan. Thomas Amato will step down as President and CEO, while the Board searches for a successor with the help of Spencer Stuart. Amato will remain in his role until June 30, 2025, or until a new CEO is appointed. He will not seek re-election to the Board at the 2025 Annual Shareholders meeting.

Amato, who became CEO in 2016, has significantly impacted TriMas by turning around its aerospace business and expanding its product offerings. He also navigated the company through challenging global market conditions.

Herbert Parker, Chairman of the Board, praised Amato's contributions and leadership. Amato expressed confidence in TriMas' future growth and commitment to supporting a smooth transition. TriMas manufactures products for consumer, aerospace, and industrial markets, employing around 3,400 people across 13 countries.

TriMas (NASDAQ: TRS) has launched a new 225,000 square foot facility in Haining, China, consolidating two previous manufacturing facilities. The state-of-the-art facility features advanced automation including AGVs, robotic palletizing, and a specialized Warehouse Management System. The facility includes a quality lab, 100,000-level clean room, and QS certification for food safety compliance. It manufactures dispensing and airless lotion pumps, foaming pumps, caps and closures for beauty and personal care markets, including e-commerce products. This facility joins TriMas Packaging's flagship locations in the United States and Mexico.

TriMas (NASDAQ: TRS) has announced the winner of its 2024 TriMas Kaizen Challenge. Allfast Fastening Systems, part of TriMas Aerospace in California, won with a project focused on improving aerospace customers' quoting experiences through streamlined ordering processes and a new interactive customer portal. The annual enterprise-wide competition, running for seven years, has received over 210 projects from 27 locations across 10 countries. The winning team used value stream mapping to reduce quote lead-time and enhance customer service. Additional finalists included facilities from TriMas Packaging in Ohio and Mexico, TriMas Life Sciences in Colorado, and TriMas Aerospace in California.

TriMas (TRS) reported Q3 2024 results with net sales of $229.4 million, down 2.5% from Q3 2023. The company achieved core sales growth in Packaging (12.3%) and Aerospace (4.8%) segments, while Specialty Products experienced a 44.8% decline. Operating profit was $8.3 million, compared to $23.8 million in Q3 2023. Adjusted net income was $17.7 million ($0.43 per diluted share), down from $26.0 million ($0.63 per diluted share) in Q3 2023. The company maintains its full-year 2024 adjusted EPS guidance of $1.70 to $1.90.

TriMas Packaging (NASDAQ: TRS), the largest division of TriMas, announces its first-time participation at Beautyworld Middle East 2024, scheduled for October 28-30 at the Dubai World Trade Centre. The company will showcase its innovative beauty and cosmetic packaging solutions at Booth #3-H19. The event, expected to draw over 70,000 visitors and 2,000 exhibitors, provides TriMas an opportunity to present its portfolio of high-end fragrance pumps and closures through its brands including Rieke®, Aarts Packaging, Affaba & Ferrari™, Taplast™, and Rapak®.